Net mortgage lending rose by an £5.7bn last month, the second highest figure on record, according to the latest figures from the British Banker's Association (BBA).
The BBA says the rise in net lending was higher than both the £5.1bn rise in April and the average of £5.1bn over the previous six months and second only to the rise of £6bn in April 2004. David Dooks, BBA director of statistics, says: “May’s rise in net mortgage lending, the largest monthly increase since the rise of £6bn in April two years ago, shows the mortgage market to be very much alive at a time when annual house price growth is strengthening.” Meanwhile new figures from the Council of Mortgage Lenders (CML) also released today reveal gross mortgage lending reached £28.7bn in May....
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